Are Highly Intelligent People More Likely to Tolerate Risk in China? Evidence from China Family Panel Studies

Table 5

Robustness check.

	(8)		(9)		(10)		(11)
Risk scores	0.301 (0.074)
Savings knowledge			0.423 (0.109)
Currency inflation knowledge					0.142 (0.155)
Investment knowledge							0.512 (0.141)
Constant	2.576 (1.231)		2.688 (1.217)		2.862 (1.230)		2.701 (1.248)
Coefficients of full variables are given inS3
Big Five	Yes
Provincial fixed effects	Yes
N	8468		8480		8482		8475

Note. Interval regression was used with sample weights to analyze the data. The dependent variable is interval-censored risk choice. Savings knowledge, currency inflation knowledge, and investment knowledge are represented as dummy variables. Wrong answers were coded as 0, whereas right answers were coded as 1. Risk scores were calculated as the sum of responses to the three financial questions. Higher scores indicate a better understanding of these knowledge areas. Robust standard errors are reported in parentheses. Significance levels are denoted as .